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Thermax expands its business in renewable space

News: Thermax recently announced the expansion of its solar business, transitioning from the present rooftop-based capex model to the solution-based opex model. Thermax’ solar business is projected to grow to a GW scale based on its opex strategy. The company has appointed new CEO for its solar subsidiary.

Views:The new business, to be helmed by Thermax’s subsidiary, First Energy Pvt Ltd, will work closely with customers in the commercial and industrial space and support their decarbonising journey by providing optimised renewable power. First Energy strives to set up open access based solar and solar hybrid farms, hybridising solar with storage and other solutions and delivering appropriate renewable power to customers. This initiative complements well with the build own operate renewable energy and environment business model that serves variety of industries including pharmaceuticals, chemicals, food, and metals, etc